There is a newer version of the Code of Virginia
2006 Code of Virginia § 13.1-1038 - Nature of interest in limited liability company
13.1-1038. Nature of interest in limited liability company.
A membership interest in a limited liability company is personal property.The only transferable interest of a member in the limited liability companyis the member's share of the profits and losses of the limited liabilitycompany and the member's right to receive distributions.
(1991, c. 168; 2006, c. 912.)
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